Polish domestic long steel prices edged lower in the week to Friday July 31, although market participants said the reductions were encouraging customers to restock.
“We are hearing that stocks were empty and with these new price levels customers have ordered quite a lot,” one distributor source told Fastmarkets.
Despite the improved buying activity, overall demand remained weak, however, particularly for rebar, according to sources.
Offers for Polish rebar came in at 2,660-2,680 ($706- 714) zloty per tonne CPT, with deals heard at those levels, although the overall tradable level was put at 2,650-2,680 zloty per tonne CPT.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland, narrowed down to 2,650-2,680 zloty per tonne on Friday, from 2,650-2,700 zloty per tonne on July 24
In terms of wire rod, offers were heard at 2,990-3,100 zloty per tonne delivered, sources said, while the tradable level was put at 3,000-3,100 zloty per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, widened down to 2,990-3,100 zloty per tonne on Friday, from 3,000-3,100 zloty per tonne a week earlier.
